Where Is Gold Going In This Market

[OlRedEyes]

I wonder how Icelanders who have gold are doing these days? A lot better than most I imagine....

Exactly.

Seeing the woods from the trees comes to mind. Acting on very short term fluctuations in a major bear market that's just started is suicide, unless you're shorting. A quietish week and everyone turns into a buyer, quite funny if it wasn't so shortsighted. The last decade has made people forget that we are not supermen, that can wriggle our way out of disaster in a few short weeks. Everybody is straining at the leash to lose their money..... since the first day of the crash.

Excuse me but I do not understand either post. It is genuine or sarcasm? I am just curious.

Cloudhopper

I personally would guess the Icelander with gold would be doing very well if like most he physically held it & now could sell & get cash. Where all others who trusted paper in a bank are lost? True? Is that what you meant?

OlRedEyes

How do you mean? Do you mean good idea buying gold now or bad?

I know its a bear market but now I see a slight pull back in Gold but not sure how far it will drop. Again just curious

Thanks

Anybody who confidently states that markets, gold, oil or whatever will go up or down should be far too busy trying to spend his billions to be posting here on TV. He'd be lounging on the beach of his private island, surrounded by employees and sexy hangers-on.

The markets are in turmoil. Bernanke has got his begging-bowl out again at Congress. Toyota is struggling. GM is in crisis. Taxpayers (non-existent?) money is being thrown around like confetti worldwide. Chinese factories are closing. We are simply at the beginning of the recession (optimistic term).

Nothing goes up or down in a straight line. Charts are only useful in a stable market, where speculators act in tandem (concert?) to resistance and support points. Once panic sets in and nervousness is universal, charts simply reflect history.

I simply believe that gold's downside is limited. Something which cannot be said for stocks, or even cash. If things get worse, which they very well may, gold could rise substantially. In this worldwide scenario if you can limit your losses you're doing well.

Pronouncing on daily or weekly price fluctuations in a confused and nervous market is folly. Those that want to make a reputation declaring where gold was a week ago compared to today are simply gambling. Gives them a heads/tails chance of being able to say they are right, and doesn't in any way reflect intrinsic skill or knowledge.

You either pays your money and takes your chance, or you look at all the factors and pays your money and takes your chance. Second option gives you a little better odds.

With a nic like VegasVic I'd be careful There are only two options, up or down, a 50% chance of jackpot. Enticing odds for anyone who loves Vegas.

Edited October 22, 2008 by OlRedEyes

[flying]

Anybody who confidently states that markets, gold, oil or whatever will go up or down should be far too busy trying to spend his billions to be posting here on TV. He'd be lounging on the beach of his private island, surrounded by employees and sexy hangers-on.

Thanks I agree Hey I am on an Island though I do not own it

I do have one very sexy hanger on but she would not like to be called that

I simply believe that gold's downside is limited. Something which cannot be said for stocks, or even cash. If things get worse, which they very well may, gold could rise substantially. In this worldwide scenario if you can limit your losses you're doing well.

I feel the same way. I have been wanting to get into gold.

But have no luck finding any at all. I am still searching.

Like you I find no real downside & it is a heck of a lot better than stocks.

Some say it will go down but then what? The spread will go where?

There is none to be found....really

Well actually I have found a little krugerrands but not nearly what I wanted. They tell me for other coins 3 months & the mints will do 2009 coins but I do not want to pay now & wait 3-4 months. But that may be the only option.

[OlRedEyes]

Anybody who confidently states that markets, gold, oil or whatever will go up or down should be far too busy trying to spend his billions to be posting here on TV. He'd be lounging on the beach of his private island, surrounded by employees and sexy hangers-on.

Thanks I agree Hey I am on an Island though I do not own it

I do have one very sexy hanger on but she would not like to be called that

I simply believe that gold's downside is limited. Something which cannot be said for stocks, or even cash. If things get worse, which they very well may, gold could rise substantially. In this worldwide scenario if you can limit your losses you're doing well.

I feel the same way. I have been wanting to get into gold.

But have no luck finding any at all. I am still searching.

Like you I find no real downside & it is a heck of a lot better than stocks.

Some say it will go down but then what? The spread will go where?

There is none to be found....really

Well actually I have found a little krugerrands but not nearly what I wanted. They tell me for other coins 3 months & the mints will do 2009 coins but I do not want to pay now & wait 3-4 months. But that may be the only option.

Disclaimer : I do not advise anybody to go into anything. I simply state my views, which may turn out to be right or wrong.

Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money

[flying]

Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money

Hahah yes I thought of doing something similar with mine. But we are here in the US now on a pacific island As much as I love the folks back home I dont think I will do chains by mail

[OlRedEyes]

Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money

Hahah yes I thought of doing something similar with mine. But we are here in the US now on a pacific island As much as I love the folks back home I dont think I will do chains by mail

Hmmm... Chains, mail, sexy hangers-on. Starting to get my interest here...

[flying]

Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money

Hahah yes I thought of doing something similar with mine. But we are here in the US now on a pacific island As much as I love the folks back home I dont think I will do chains by mail

Hmmm... Chains, mail, sexy hangers-on. Starting to get my interest here...

hahaha see even your pic girl couldnt find any gold This has some

http://images.buycostumes.com/mgen/merchandiser/20951.jpg

[churchill]

Interesting article - short term negative on gold long term positive - I would like to know how long is short term and what price are we going to get to when the selling stops .

http://www.mineweb.com/mineweb/view/minewe...8&sn=Detail

[BEENTHEREDONETHAT]

Interesting article - short term negative on gold long term positive - I would like to know how long is short term and what price are we going to get to when the selling stops .

http://www.mineweb.com/mineweb/view/minewe...8&sn=Detail

I read that as him saying it will be either bullisn or bearish in the short term. No one can argue with that. Well I guess it could stay flat. Buy mining stock and you will normally be investing in more than one metal.

I have 2 Krugerands and a Canadian Mapleleaf I will trade for a nice condo in BKK.

[Naam]

Where Is Gold Going In This Market?

it looks like Gold is going nowhere

[lannarebirth]

Where Is Gold Going In This Market?

it looks like Gold is going nowhere

It's going where the great derivatives unwinding takes it. Same as everything else.

[VegasVic]

Where Is Gold Going In This Market?

it looks like Gold is going nowhere

Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.

[flying]

Where Is Gold Going In This Market?

it looks like Gold is going nowhere

Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.

You meant Aug 2008?

I woke to see the new gold price & glad I couldn't find anything in the sizes I wanted a few days back Not surprising that I now see some krugerrands available but..........+9% over spot I will continue to wait.

Silver is holding nice though

[lannarebirth]

Where Is Gold Going In This Market?

it looks like Gold is going nowhere

Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.

You meant Aug 2008?

I woke to see the new gold price & glad I couldn't find anything in the sizes I wanted a few days back Not surprising that I now see some krugerrands available but..........+9% over spot I will continue to wait.

Silver is holding nice though

And how about the realative price of Gold stocks in relation to Gold? Massive dumping going on:

[flying]

And how about the realative price of Gold stocks in relation to Gold? Massive dumping going on:

Do you think that is because governments may be selling gold to help in their spending/bailouts?

[LaoPo]

And how about the realative price of Gold stocks in relation to Gold? Massive dumping going on:

Do you think that is because governments may be selling gold to help in their spending/bailouts?

A quote today:

"'Investors worldwide are selling everything, including the kitchen sink, and gold is no exception.' — Peter Grandich, Agoracom"

Here's a -gold related- link; #1 most popular read: The Wall Street Journal/MarketWatch, Oct. 23 :

http://www.marketwatch.com/news/story/gold...ist=SecMostRead

LaoPo

Edited October 23, 2008 by LaoPo

[flying]

[

A quote today:

"'Investors worldwide are selling everything, including the kitchen sink, and gold is no exception.' — Peter Grandich, Agoracom"

Here's a -gold related- link; #1 most popular read: The Wall Street Journal/MarketWatch, Oct. 23 :

http://www.marketwatch.com/news/story/gold...ist=SecMostRead

LaoPo

Thanks Good Article

[flying]

Ever see these?

http://seekingalpha.com/article/95496-law-...for-gold-silver

http://www.theundergroundinvestor.com/2008...physical-coins/

Edited October 24, 2008 by flying

[ace]

Where Is Gold Going In This Market?

it looks like Gold is going nowhere

Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.

Getting very close to that $670....But is $550 round the corner?

[flying]

Getting very close to that $670....But is $550 round the corner?

I saw it hit 682 last night & thought Yeah !! Maybe I can buy tomorrow.

But woke up & it was up 50 already

I finally found some & it is still there but I want to get a bit lower in price.

We will see....maybe I will regret it.

[VegasVic]

Getting very close to that $670....But is $550 round the corner?

I saw it hit 682 last night & thought Yeah !! Maybe I can buy tomorrow.

But woke up & it was up 50 already

I finally found some & it is still there but I want to get a bit lower in price.

We will see....maybe I will regret it.

It closed at $731/ounce today, but I still think that we will see the mid $600's and lower as the Dollar continues on its bull run, and Oil continues its slide

[flying]

It closed at $731/ounce today, but I still think that we will see the mid $600's and lower as the Dollar continues on its bull run, and Oil continues its slide

Im not in a rush

I feel the same way. I think it will find support at 650 & I will grab some bars.

I can get those at 3% above spot. Coins still have too high a premium at 9%

Then wait & see if the 650 level holds.

[alantheembalmer]

If you want to take a look at what can happen to one commodity, just see what has happened to rhodium this year.

[colibra]

I think we are seeing the raping of america wealth again. It seems to happen every few years and yes it is manipulated. We have seen the dollar drop over the last few yeas and europeans and other nationalities jump on the realestate band wagon buying everything in sight because in some places price were climbing at 4% per month. Now that they have crashed everyone is losing and all those nice 401ks and retirement plans are being fleeced. What is left. Where did many people run to Gold and now it will be fleeced also. Get out of gold and take your profits. you can always buy back in when it starts to rise again.

As far as i can see this fleecing happens about ever 10 to twenty years. Last time there was a big fleecing it was of the Japaneese who buying up everything in sight and there was a similar realestate bubble, and gold was up and everybody was building shelters and storing food. It is a planned, premeditated manipulation to take back the wealth that has been accumulated by the people and foreign investors. Where is all the wealth going someone is getting rich. As they say follow the money trail.

[VegasVic]

I think we are seeing the raping of america wealth again. It seems to happen every few years and yes it is manipulated. We have seen the dollar drop over the last few yeas and europeans and other nationalities jump on the realestate band wagon buying everything in sight because in some places price were climbing at 4% per month. Now that they have crashed everyone is losing and all those nice 401ks and retirement plans are being fleeced. What is left. Where did many people run to Gold and now it will be fleeced also. Get out of gold and take your profits. you can always buy back in when it starts to rise again.

As far as i can see this fleecing happens about ever 10 to twenty years. Last time there was a big fleecing it was of the Japaneese who buying up everything in sight and there was a similar realestate bubble, and gold was up and everybody was building shelters and storing food. It is a planned, premeditated manipulation to take back the wealth that has been accumulated by the people and foreign investors. Where is all the wealth going someone is getting rich. As they say follow the money trail.

Colibra, As an anti-goldbug I would usually agree with you, however the dynamic is slightly different this time around. Despit the crash in commodities and the rise in the Dollar recently, gold has held up remarakably well and that along with this strange anomaly across the globe with this scarcity of gold bars and coins, makes me believe some of the reports that there are central banks and private investors who are taking physical possesion of the metal and causing a shortage on the actual physical market may be true. Also the world is in recession and even feeling a bout of deflation, but givin the masive influx of funds worlwide from governments to aid in this time of crisis we will be seeing inflation rear its ugly head in the not too distant future. I still believe that Gold will head lower from here, but I would be surprised if it goes much lower than $600/ounce. Longer term with inflation on the horizon and large scale geopolitical risks across the globe I think that there is a chance that Gold will head back up over the next 12-18 months. Thats just my take on the situation for what its worth, I have already taken my hedge so I am covered no matter how this plays out!

[flying]

As an anti-goldbug I would usually agree with you, however the dynamic is slightly different this time around. Despit the crash in commodities and the rise in the Dollar recently, gold has held up remarakably well and that along with this strange anomaly across the globe with this scarcity of gold bars and coins, makes me believe some of the reports that there are central banks and private investors who are taking physical possesion of the metal and causing a shortage on the actual physical market may be true.

I dont know about banks but I have had friends around the worl tell me & saw 1st hand private investors stocking up.

We are not talking small $$$ either.

[colibra]

I thik you are right. Gold will go back up but not until it crashes not sure where that bottom will be. But it won't be until most of the of the small investors that moved into it as a safe place for their wealth have sold out and then they will come back in and buy it cheap and then it may be be up for quite a while. It only makes sense that if you print a bunch of money it would devalue the money out there. But that is the logic if the money is really backed by something. Not sure it holds true for our current situation. I have just watched over the years how they operate. How back in the 60 they started putting independents out of business in a lot of areas like private gas stations and farms and mom and pop groceries. Its seems like it just has exspanded from there and I have no reason to believe this is not a manipulated crises now to take more of the wealth back. Not sure who such as NWO necessarily but people in high places. We can find out who is behind all this if we can find out who is raking in the dough right now. I'm not sure were to start looking but I have some Ideas.

Edited October 25, 2008 by colibra

[colibra]

Now we have all the hedge funds failing. Looks at all the people who invested in those that now will lose a lot of there investment. Someone is making a bundle off all the loses the people are losing. Its like one after another areas of wealth are under attack. This is a big one and I think there will not be many left standing when its all over.

UNDER SIEGE

I am fairly secure as I do not owe any money and have diversified my investment between realestate here and in the US and cash Baht and USD and a small amount of gold and silver with a few precious stones throne in.

[lannarebirth]

FWIW:

http://www.financialsense.com/editorials/s.../2008/1024.html

[flying]

FWIW:

http://www.financialsense.com/editorials/s.../2008/1024.html

Thanks

I am no expert at charts but that 1st chart is what I also saw.

Which is why I thought I would wait for that support back around 650

then buy a small amount & see.

If it went lower I would try again at the 450 area.

But you know ...... I wonder. Do you think during times like these tech & normal thinking goes out the window?

[lannarebirth]

FWIW:

http://www.financialsense.com/editorials/s.../2008/1024.html

Thanks

I am no expert at charts but that 1st chart is what I also saw.

Which is why I thought I would wait for that support back around 650

then buy a small amount & see.

If it went lower I would try again at the 450 area.

But you know ...... I wonder. Do you think during times like these tech & normal thinking goes out the window?

I'm not sure about the T/A, but normal thinking always goes out the window... eventually. My personal opinion is, 650ish is too well staked out, meaning it doesn't make it there, or if it does it slices right through. BWDIK?